These banks can, however, issue ATM cards, debit cards, net-banking, and mobile-banking. In keeping with these guidelines, Paytm Payments Bank is currently gearing up to launch its own debit card.

which would help them competing with credit cards, if not replacing them. As per existing norms set by the RBI, Paytm has to restrict its customers to Rs 10,000 wallet recharge per month on a ...